Ivan Reitman thinks a 'Baywatch' movie is a "big opportunity".

The 'No Strings Attached' director confirms a film version of the classic TV series starring David Hasselhoff and Pamela Anderson as lifeguards on a Los Angeles beach is in the works, but a script is not yet ready.

He said: "We still don't have a script that's makeable. I think it's a big opportunity. This is a comedy, and I think we have a very interesting take - a classical idea that will be fresh for the world audience. It's one of the best-known titles that's out there."

According to the Guinness Book Of World Records, the show is one of the most viewed worldwide in history, with 1.1 billion people watching.

The filmmaker also reveals most of the cast of 'Ghostbusters' have read The Script for the third film in the series apart from lead star Bill Murray.

He told The Hollywood Reporter: "There's a lot of talk about 'Ghostbusters III'. And there's a very good script that the other cast members have read and liked. We're just waiting for Bill Murray to read it."

Ivan recently confirmed Ashton Kutcher could be in line for a role in the movie.

Asked if he would cast his 'No Strings Attached' star, he said it was "absolutely possible".